...all electricity networks. Load shedding can be required when there is an imbalance between electricity demand (customers’ usage) and electricity supply (the ability of the electricity network to generate and transport the required amount of electricity to meet this demand). When there is a shortfall in the electricity supply, there can be a need to reduce demand very quickly to an acceptable level, or risk the entire electricity network becoming unstable and shutting down completely. This is known as a “cascade”. Event and can end in a total or wide spread network shutdown affecting very large areas of country. Load shedding normally happens in two ways: Automatic Load Shedding: This is a result of concurrent failures of major element(s) in the national grid(e.g. co-incidental generator or key transmission line failures), resulting in protection schemes initiating the automatic isolation of additional parts of the national grid, to protect the entire grid from cascading to a total blackout. Automatic load shedding always occurs on the transmission system level, with the result being large amounts of electricity and large blocks of customers taken off supply in a very short time. Typical load reduction amounts can be in the order of 1000MW 2000MW, affecting hundred of thousands of customers. Manual (Selective) Load Shedding: Typical load reduction amounts can be in the order of 50MW – 100MW This occurs where time is available (typically up...
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...Chapter 8 – Systems oriented theories 1. Introduction Rationale: Why corporate management might elect to voluntarily provide particular information to parties outside the organisation. (Page 250 & 251) Gray, Owen and Adams (1996): Legitimacy Theory and Stakeholder Theory are two theorietical perspectives that have been adopted by a number of researchers in recent years. The theories are sometimes referred to as “systems-oriented theories”. Within a systems-based perspective, the entity is assumed to be influenced by, and in turn to have influence upon, the society in which it operates. Within both legitmacy theory and Stakeholder theory, accounting disclosure polices are considered to constitute a strategy to influence the organisation’s relationships with the other parties with which it interacts. 2. Political Economy Theory According to Gray, Owen and Adams (1996), Legitmacy Theory and Stakeholder Theory are both derived from a broader theory which has been called “Political Economy Theory”. “Political Economy” as defined by Gary and Owen as the “social, political and economic framework within which human life takes places”. The perspective embraced is that society, politics and economies are inseparable, and economic issues cannot meaningly be investigated in the absence of considerations about the political, social and institutional framework in which the economic activity takes place. Gurthrie and Parket (1990) states that corporate reports cannot...
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...Chapter 8 – Systems oriented theories 1. Introduction Rationale: Why corporate management might elect to voluntarily provide particular information to parties outside the organisation. (Page 250 & 251) Gray, Owen and Adams (1996): Legitimacy Theory and Stakeholder Theory are two theorietical perspectives that have been adopted by a number of researchers in recent years. The theories are sometimes referred to as “systems-oriented theories”. Within a systems-based perspective, the entity is assumed to be influenced by, and in turn to have influence upon, the society in which it operates. Within both legitmacy theory and Stakeholder theory, accounting disclosure polices are considered to constitute a strategy to influence the organisation’s relationships with the other parties with which it interacts. 2. Political Economy Theory According to Gray, Owen and Adams (1996), Legitmacy Theory and Stakeholder Theory are both derived from a broader theory which has been called “Political Economy Theory”. “Political Economy” as defined by Gary and Owen as the “social, political and economic framework within which human life takes places”. The perspective embraced is that society, politics and economies are inseparable, and economic issues cannot meaningly be investigated in the absence of considerations about the political, social and institutional framework in which the economic activity takes place. Gurthrie and Parket (1990) states that corporate reports cannot...
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...After Kraft announced takeover of Cadbury’s, it announced job losses. TWE do you agree that mergers and takeovers are not always in the best interests of their stakeholders (40) A stakeholder is a group or organisation/institution that has an interest in or is affected by the success of a business. Many stakeholders would argue that takeovers/mergers are not in their best interests because the new ownership will usually cut jobs to reduce costs. This is because the new ownership are likely to have their own HR department, operations, management etc, therefore roles such as middle managers will be regarded as surplus to requirements. Cutting jobs would be supported by shareholders such as shareholders/higher management but opposed by employees and the local community as the firm would not be fulfilling their social responsibility. After cutting jobs, the firm will then transfer production overseas as another method of cutting costs which will be supported by management and customers (since the firm may reduce prices), however it will be opposed by the local community because of the job losses and impact on the economy incurred. However if a firm decides not to transfer production overseas they may introduce more capital intensive labour and replace human workers as a method of reducing long term costs which will be favoured by customers and shareholders but opposed by employees. However whilst most takeovers will favour the cutomer, the firm taking ownership may rise prices to...
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...We would also like to thank our colleagues, who often helped and gave us support at critical junctures during the completion of this project. * Contents Contents 3 1 Introduction 4 2 Stakeholders of Tri-State Telephone Company 5 2.1 Internal stakeholders of the Tri-State 5 2.2 The Tri-State external stakeholders 6 3 The key stakeholders of the Tri-State 7 4 The critical trends in Tri-State environment 8 5 Reasons for Tri-State customers become upset 9 6 What should John Godwin do? 10 7 Recommendations 11 8 References 12 * Introduction Tri-State Telephone is a telecommunications company that provided the telecommunications of the residents of three US States. Currently customers of Tri-State Company pay a monthly flat rate for the service they used. Now the management of Tri-State wants to change the pricing system from monthly flat rate to a new pricing system. However, the customers are not in a position to accept the new pricing system.Hence, they do not allow the company to launch the new pricing system. In this case, they begin to march in to protest against Tri-State Company with the help of consumer federation of America and congress of consumer organization. Stakeholders of Tri-State Telephone Company * Stakeholder means a party that has an interest towards the organization. There are mainly two types of...
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...Stakeholder Claim and the Product Market Name: Institution: Numerous stakeholders possess the right to inspire the resolutions that a company makes as they unswervingly demand respect from these companies. As a result, of the impact exercised by stakeholders, business guidelines must be framed to apt the prerequisites of most shareholders so as to have prosperous dealings. Examples of shareholders in a business include stakeholders themselves, staffs, associates and stockholders. The focus of this paper will be a review of relations between stakeholder prerogatives and the product market (Bourne, 2009). Additionally, stakeholders refer to the groups of people that influence the routine actions of the business and those that the business shakes. Most importantly, stakeholders encompass the society, dealers, customers, trade unions and other organizations which affect the business integrates. Regardless, of the nature of stakeholders involved in any business or company, there should be close integration of the major shareholders in business activities so as, to avoid imminent wrangles about the management of the company. The conception of stakeholder claims is that every shareholder possesses something that they desire from the Company or posedefinitewants from the organization they have affiliations. For instance, stakeholdersproclaim dividends; personnelassert recompense and indemnification;...
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... Contents 2 1. Introduction 3 2. Context 3 1.1. Environment 3 1.2. Industry 4 1.3. Stakeholders 5 1.4. SWOT 6 3. References 9 4. Annexures 10 8.1. Annexure A: PESTEL analysis 10 8.2. Annexure B: Porter’s Five Competitive Forces 11 8.3. Annexure C: SWOT analysis 12 1. Introduction The Employee Benefits operational plan sets out the short-term objectives for the business unit (also referred to as company) for the next 12 months. It aims to identify what needs to be accomplished in order for the company to meet its strategic objectives and it does so by identifying and outlining those activities that need to be implemented. 2. Context The following section provides background for the focus, decisions made and activities selected in the operational plan for Employee Benefits. 1.1. Environment An environment analysis focusses on the external and uncontrollable factors that influence an organisation (Peters [sa]). PESTEL is a common macro environment analysis tool which looks at factors from political, economic, sociocultural, technological, environmental and legal aspects and Vitez (2014) explains that such a macro environmental analysis helps create a strategy that leverage as many of these external factors as possible to the company’s advantage. The PESTEL analysis for Employee Benefits has identified the following major external factors which need to be considered by the company: Table 1: Macro factors Aspect |...
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...organization. While selecting new suppliers these stake holders always focus on their department concerns and work collaboratively to choose the supplier meeting each stakeholder requirements. • Supply chain & procurement department • Sales • R&D • Purchasing Department concerns while choosing suppliers • Supply chain & procurement department Supply chain and procurement department plays a vital role in the selection of a right supplier. Who can full fill all the requirements of the company timely? They look for the following major issues while the supplier selection process. Timely delivery of raw material from right supplier with right quantity on right time. Supplier should be capable enough to ensure whether the Material will help in the optimization of production process. Uninterrupted polyester supplies. Right quantity on right time. Lowering the time to market. • Sales Sales department ensure whether supplier would be able to offer solutions to decreased sales and book a market share Suppliers should be able enough to provide innovative solution to grab market share. Does the supplier will negotiate the price in order to help and achieve new market targets? • Research & Development R&D accesses the production capacity, processes and quality of supplies. They look for the following major issues while the supplier selection process. Which supplier will be supportive enough to encourage the new development in the polyester category? Which...
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...departments within the hospital and the large amount of patients within the facility. He oversees a large number of employees as well and has a social responsibility to all sides. However, he quickly learns that patients within the hospital have been dying as a result of a variety of illegal procedures by doctors and nurses, and negligent supervision and oversight on their part (Halbert/Ingulli, 2012).” “Internal stakeholders participate in the co-ordination, resourcing, but also partnerships whereas: external stakeholders contribute their views and along with issues that are important to them as patients, service users, and members of the local community (Health Knowledge, n.d. para. 10)”. In response to question 1: Who are the stakeholders? Who are the persons/entities that are generally involved in the medical industry? In other words who are the people or category of persons, or entities that Dr. DoRight work with and would be answerable to? “A stakeholder is any group within or outside the organization that has a stake in the organization’s performance. Each stakeholder has a different criterion of responsiveness because it has a different interest in the organization (Daft, 2010, p. 139).” The...
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...industry. The company chose to address this issue by developing a plan that focused on growth through new services and cost reduction through outsourcing some of their technical call centers. GC did not include the union, a major stakeholder, in the development of this plan. This resulted in conflict between the company and the union. “Conflict gives you an opportunity to deepen your capacity for empathy and intimacy with your opponent,” (Kreitner & Kinicki, 2004, p. 4). GC has the opportunity to address the unions concerns, repair the damage to the public image of GC caused by the union press release, and develop a strategic plan that meets all the stakeholder’s needs. According to Weiss (2006), understanding a company’s central issues and how they evolved can help manage changes in a company’s direction and operations. Stakeholder Perspectives/Ethical Dilemmas The main stakeholders in the GC scenario are the customers interested in efficient communication services at reasonable prices; stockholders interested in the appreciation of the company stock; the senior leadership team interested keeping the company in business; the union, interested in the rights of the employees, and the employees interested in keeping their jobs. Each of the stakeholders has the right to look after their own best interest, and each value those issues that...
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...FINANCIAL MANAGEMENT GOALS FIN/200 July 12, 2013 FINANCIAL MANAGEMENT GOALS Financial management is an integrated decision-making process concerned with acquiring, financing, and managing assets to accomplish some overall goal within a business entity. Finance is one of the key functions within any organization. Financial management involves three major types of decisions: long-term investment decisions, long-term financing decisions, and working capital management decisions, which are short-term in nature. These decisions concern the acquisition and allocation of resources among the various activities of a firm. Investment decisions typically affect financing decisions and vice versa. Although all these decisions are important, decisions are typically the most important because they affect a firm’s growth and profitability. There are two approaches that shape and influence the way managers prioritize and do things - the classical view and the socioeconomic view. The classical view "says that management's only social responsibility is to maximize profits", that "there is one and only one social responsibility of business - to use its resources and engage in activities designed to increase its profits so long as it stays within the rules of the game, which is to say, engages in open and free competition without deception or fraud." Friedman (1962, 1970) argued that managers' main responsibility is to operate the organization in the interest of the shareholders,...
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...1) In your own words, define the term stakeholder The term stakeholder can be defined as any person, social group, or organization that has an interest or concern in an organization. Each stakeholder can be affected by the business’ actions. Primary examples of stakeholders include owners and employees (internal stakeholders), as well as the community, customers, suppliers, media, etc (external stakeholders). 2) In the 3rd section of the ATOM Flash module, identified alternatives, provide what you think would be the impact of each alternative for the 3 stakeholders. Stakeholders - ATOM, client, young people For the first alternative, “tell the client you're not interested”, ATOM Communication Agency would, obviously, lose a valuable customer. At the same time, however, they would gain a positive recognition for being against underage drinking, an illegal and unethical behaviour. In the future, this would be advantageous in attracting other clients that are more favourable to ATOM, such as those who hope to create anti-drinking campaigns. Young people would be also impacted, since less exposure to negative campaigns can be translated to better health and a more positive community in the long run....
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...actions, activities and attitudes and how they impact the business and the market in which it operates, with emphasis on maximizing its positive impact while minimizing its negative impact. In this essay, I will explain why I think Company Q is or is not acting in a socially responsible manner for each of the three situations in this scenario. I will also explain three ways I think Company Q can bolster its attitude towards social responsibility to improve its positive impact on all its stakeholders and the community it operates within. Each situation in the scenario has a component of merit and detriment to its stakeholders, but to me, I believe the attitude towards social responsibility by company Q is negative at the core. Company Q appears to be following more of a shareholder model, in which it is placing most of its emphasis on the shareholder and increasing profits without much consideration for its other stakeholders. For example, in situation 1, Company Q closed two stores in a major metropolitan area suffering from high crime rates due to a consistent loss of money. While this decision was beneficial to the shareholders, it will also put all of those stores employees out of work and eliminates a source of groceries for its communities. Situation 2 shows the emergence of a limited health-conscious/organic products section in the stores after years of requests from customers. But these items are all high margin items, maximizing profits for the company. These offerings...
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...effectiveness (OE) has evolved during the past three decades and to provide examples how firms are using HRM to improve their OE today by addressing several challenges that result from a broader stakeholder model. Design/methodology/approach – This paper reviews the past and current work on the relationship between HRM and OE. Findings – This findings indicate that the relationship between HRM and OE is very different when comparing the past with the current work on the relationship between HRM and OE. A major reason for this is the current work on OE uses the multiple stakeholder model that accounts for many more stakeholders than the past work. Practical implications – Human resource (HR) professionals have the opportunity to demonstrate many ways by which HRM can influence OE, and not just solely on the basis of firm profitability. Thus the use of the multiple stakeholder model today offers the HR professional and the HR profession many more opportunities to demonstrate their importance and impact. Originality/value – A systematic review and comparison of the past and current relationship between HRM and OE using the multiple stakeholder model have not been using both the viewpoints of both academics and practitioners. Keywords Human resource management, Organizational effectiveness, Multiple stakeholders Paper type General review HRM and OE...
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...effects of the oil leak in the environment and society, stating, “The Gulf of Mexico is a very big ocean“ (Webb, 2010). Previous events had caused concerns among authorities on the possibility of BP not doing the appropriate maintenance of its old system of wells. In fact, in 2004 the company was fined for $1.2 million by state regulators (Barringer, 2006) and in 2006 for $2.4 million by the labor department also because of unsafe practices (Pulham, Hilaire, & Fenn, 2010). In addition, reports from a longtime employee stated that the company had received repeated warnings on the possible effects of cutbacks in maintenance and inspection routines (Barringer, 2006). It seems like BP had been struggling to manage the benefits of pleasing Stakeholders and the consequences of mistakes and sloppy conduct in a quest to a more sustainable future. • Impact to...
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